EUR/JPY Price Analysis: Upside looks firm and now targets 127.50

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  • EUR/JPY cliched fresh +2-year peaks around 125.40 earlier in the session.
  • The March 2019 high near 127.50 is the next target of significance.

EUR/JPY’s rebound clinched its fourth consecutive session with gains, managing well to clear the 125.00 mark and advance to the 125.40 region, levels last seen in May 2019.

Extra upside momentum remains well on the cards and sustained by the generalized improvement in the risk complex. Against this, the next are of interest for the cross is the mid-127.00s, where sits the March 2019 high.

As long as EURJPY trades above the 200-day SMA at 120.05, the bullish outlook is expected to remain unchanged.

EUR/JPY weekly chart

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